Westfield Group’s Australian assets will now merge with those of Westfield Retail Trust, which was spun off from the parent company in 2010. Photo: Bloomberg

The result means Westfield Group’s Australian assets will now be merged with those of Westfield Retail Trust to create a new company called Scentre.

Westfield Group will now be solely focused on managing and developing its international businesses, which includes major shopping centres in the UK and US.

The shopping centre giant appears to have been able to convince some institutional investors to switch their vote after postponing the poll late in May.

Only 74.1 per cent of proxy votes cast before the abandoned poll were in favour of the restructure, meaning it was likely to have been defeated.Westfield Group shareholders have already approved the restructure, with 98 per cent voting in favour of the move last month.